GFL Limited announced its Q3FY26 quarterly results for the quarter ended December 31, 2025, alongside several significant board decisions during its meeting held on February 12, 2026. The company reported steady financial performance while advancing its corporate restructuring strategy through a comprehensive merger scheme with its wholly-owned subsidiary.

Q3FY26 Financial Performance

The company delivered consistent operational performance with total revenue from operations reaching ₹95 lakhs, compared to ₹82 lakhs in the corresponding quarter of the previous year. The revenue comprised fees and commission income of ₹70 lakhs and net gain on fair value changes of ₹25 lakhs.

For the nine months ended December 31, 2025, the company achieved total revenue of ₹279 lakhs against ₹248 lakhs in the previous year, with net profit of ₹138 lakhs compared to a loss of ₹3,438 lakhs in the corresponding period.

Board Leadership Changes

The board approved significant leadership restructuring with the change in designation of Mr. Pavan Kumar Jain from Non-Executive Director to Chairman and Managing Director for a five-year term from February 12, 2026, to February 11, 2031. Additionally, Mrs. Ishita Jain was appointed as a Non-Executive Non-Independent Director.

Merger Scheme Approval

The Board of Directors approved a comprehensive merger scheme involving the absorption of Inox Infrastructure Limited into GFL Limited. The scheme requires multiple regulatory approvals, including consent from the National Company Law Tribunal and statutory approvals from shareholders and creditors.

Financial Snapshot of Entities (as of September 30, 2025)

Committee Reconstitution and Postal Ballot

The board reconstituted various committees, with Ms. Girija Balakrishnan continuing as Chairperson of both the Audit Committee and Corporate Social Responsibility Committee. Mr. Siddharth Jain replaced Mr. Devendra Kumar Jain in both committees effective February 12, 2026.

The company will conduct a postal ballot to obtain shareholder approval for the new appointments and designation changes. The merger will not result in any changes to GFL Limited's shareholding pattern as no new shares will be issued, given that GFL already owns 100% of Inox Infrastructure Limited's equity shares.

GFL Limited has announced the unfortunate demise of Shri Devendra Kumar Jain, Managing Director, Chief Executive Officer and Chairperson, who passed away on December 29, 2025. The company informed stock exchanges about this significant development through a regulatory filing on December 30, 2025.

Leadership Loss

Shri Devendra Kumar Jain served as Managing Director, CEO and Chairperson of GFL Limited with Director Identification Number (DIN) 00029782. The company described him as a visionary leader who played a pivotal role in the growth and development of the organization. His loss has been termed irreparable and is deeply felt by the Board of Directors, management, employees, and all stakeholders of the company.

Regulatory Disclosure

The company has provided the mandatory details as required under regulatory compliance:

Operational Continuity

GFL Limited has assured stakeholders that its operations and management remain stable despite this significant loss. The company emphasized that business activities are being carried out smoothly under the guidance of the Board of Directors and the senior management team. This assurance aims to maintain confidence among investors, employees, and other stakeholders during this transition period.

Corporate Communication

The intimation was signed by Lakhan Laxmi Rajam Shamala, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited. The disclosure was made in compliance with Regulation 30 of the Listing Regulations and SEBI's Master Circular dated November 11, 2024, ensuring all regulatory requirements were met promptly.